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By Bloomberg

Tiffany & Co., the luxury jewelry chain, posted first-quarter profit that exceeded analysts’ estimates after newer products such as its T collection helped fuel sales.

Excluding some items, profit was 81 cents a share, the New York-based company said in a statement Wednesday. Analysts had expected 69 cents on average, according to data compiled by Bloomberg.

Tiffany has been raising prices and adding new products, including the CT60 watch and its fashion-focused T jewelry, aiming to bolster its business at a time when currency fluctuations are hampering growth. The stronger dollar has lowered the value of Tiffany’s sales overseas, where the retailer gets most of its revenue.

“We are looking forward to new product introductions in 2015, and are particularly optimistic on the company’s recent re-entrance into the watch business,” Robert Drbul, a New York- based analyst at Nomura Securities, said in a note to clients. “We continue to believe that the company will benefit from new product introductions, strategic price increases and expansion in key markets.”

The shares jumped as much as 7.1 percent to $91.57 in early trading. Tiffany’s stock had been down 20 percent this year before the results were released.

In March, Tiffany projected a 30 percent decline in net income for the first quarter, sending the stock tumbling. The actual result wasn’t that severe, with profit falling about 17 percent in the period. The company said Wednesday that the second quarter’s decline would be more moderate.

While Tiffany’s same-store sales were down 1 percent last quarter, analysts had been predicting a 4.6 percent decline.

Tiffany also is adapting to a change in leadership. President Frederic Cumenal took over the chief executive officer job on April 1, with former CEO Michael Kowalski remaining on the board as nonexecutive chairman.